NFTs Are Down, But Bull Run Still Imminent – Bitcoin & Solana NFTs Are Leading The Revival

The
non-fungible
token
market
led
by
the
Ethereum
NFT
market
has
suffered
a
brutal
downturn
in
the
past
several
weeks,
with
rumours
spreading
that
the
NFT
market
is
dying
this
time
around.
But,
interestingly,
the
Bitcoin
and
Solana-based
NFT
collections
have
emerged
to
tarnish
these
rumours
and
are
now
leading
the
NFT
market
resurgence.

The
NFT
Market
Jump
5%
Today

Data
compiled
by

Cryptoslam.io,
an
on-chain
crypto
market
aggregator,
indicates
that
the
global
non-fungible
token
market
has
today
recorded
some
positive
gains.
In
the
past
24
hours,
the
NFT
market
has
recorded
a
trading
sales
volume
of
$29
million,
representing
4.82%
from
the
past
day.

These
positive
gains
appear
amid
the
short
bear
market,
which
had
left
massive
losses
in
many
non-fungible
token
collections,
mostly
the
NFT
collections
hosted
on
the
Ethereum
blockchain
network.
The
Bored
Ape
Yacht
Club
and
Mutant
Ape
Yacht
Club
are
perfect
examples
of
NFTs
impacted
by
the
recent
short
NFT
bear
market.

In
the
past
three
months,
the
Bored
Ape
Yacht
Club
NFT
collection
has
seen
its
NFT
floor
price
dropping
over
30%
to
below
12
ETH.
On
the
other
hand,
the
Mutant
Ape
Yacht
Club
has
seen
its
floor
price
flipping
below
2
ETH
for
the
first
time
in
NFT
history.

The
NFT
Bull
Market
Still
Imminent

Fortunately,
the
non-fungible
token
market
appears
to
be
taking
an
upside
trajectory
after
nearly
three
months
of
a
downward
spiral,
with
the
Bitcoin
and
Solana-based
NFT
collection
leading
the
NFT
resurgence.
The
resurgence
showcases
that
the
highly
anticipated
NFT
Bull
Run
is
still
imminent.

Non-fungible
token
collections
hosted
on
the
Bitcoin
and
Solana
blockchain
networks
are
bullish
today,
showcasing
promising
signs
of
the
NFT
market
recovery
in
the
coming
weeks.
In
the
past
24
hours,
the
Bitcoin
NFT
collections
have
raised
a
sales
volume
of
$9
million,
representing
a
17%
surge
from
the
past
day.

During
this
time,
the
Solana
NFT
collection
has
raised
a
trading
sales
volume
of
$7.6
million,
representing
9.98%
from
the
past
day.
Bitcoin
Ordinals
are
the
most
selling
NFT
collections
on
the
Bitcoin
network
today.
In
the
past
24
hours,
the
Bitcoin
Ordinals
NFT
collection
has
amassed
a
trading
sales
volume
of
$3.6
million,
representing
a
92%
surge
from
the
past
day.

Tensorians,
an
NFT
collection
featuring
a
limited
edition
of
10,000
pixilated
NFTs
hosted
on
the
Solana
blockchain
network,
is
the
second
most-selling
NFT
collection
today.
In
the
past
24
hours,
the
Tensorians
NFT
collection
has
recorded
a
trading
sales
volume
of
$1.7
million.
The
Tensorians
NFT
sales
have
pumped
369%
from
the
past
day.

Mad
Lads,
a
non-fungible
token
collection
from
the
Solana
Development
Project
Coral
with
a
limited
supply
of
10,000
NFT
collections
hosted
on
the
Solana
blockchain
network,
is
today’s
third
most-selling
NFT
collection.
In
the
past
24
hours,
the
Mad
Lads
NFT
collection
has
recorded
a
trading
sales
volume
of
$1.4
million.
Mad
Lads
NFT
sales
have
risen
73%
from
the
past
day.

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